Shell Reports 'Encouraging' Oil Find in the Gulf of Mexico

Mississippi Canyon
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Shell announced a new oil discovery at the Vicksburg prospect, which is in 7,500 feet of water in DeSoto Canyon blocks 353 and 397 and Mississippi Canyon block 393, in the Eastern Gulf of Mexico (EGOM).

The discovery well was drilled to a depth of approximately 25,400 feet and encountered a hydrocarbon column of approximately 300 feet. Transocean's semi-submersible Deepwater Nautilus, on contract to Shell, was used to drill the well. Shell is currently analyzing and evaluating the well data to determine next steps.

Shell is operator of Vicksburg with a 57 1/2% interest; Nexen has 25%; and Plains Exploration & Production Company has 17 1/2%.

"The results from Vicksburg are encouraging," said Annell Bay, Vice President of Exploration for Shell in the Americas. "We are excited about the Eastern Gulf of Mexico (EGOM) and our ability to become a key player in this emerging area. Shell has a significant lease holding in the EGOM from which we continue to mature opportunities for drilling. We were also an active bidder in the EGOM during Lease Sale 205 where we were apparent high bidder on 36 blocks."

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